Bank of New York Mellon Corp Sells 239,221 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Bank of New York Mellon Corp decreased its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX - Free Report) by 16.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,255,572 shares of the transportation company's stock after selling 239,221 shares during the quarter. Bank of New York Mellon Corp owned 0.78% of Knight-Swift Transportation worth $54,605,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Aviance Capital Partners LLC grew its holdings in shares of Knight-Swift Transportation by 6.3% in the 1st quarter. Aviance Capital Partners LLC now owns 110,932 shares of the transportation company's stock worth $4,824,000 after purchasing an additional 6,592 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Knight-Swift Transportation in the 1st quarter worth about $1,989,000. Hudson Edge Investment Partners Inc. grew its holdings in shares of Knight-Swift Transportation by 5.4% in the 1st quarter. Hudson Edge Investment Partners Inc. now owns 17,575 shares of the transportation company's stock worth $764,000 after purchasing an additional 908 shares during the last quarter. Peregrine Capital Management LLC grew its holdings in shares of Knight-Swift Transportation by 5.2% in the 1st quarter. Peregrine Capital Management LLC now owns 186,248 shares of the transportation company's stock worth $8,100,000 after purchasing an additional 9,136 shares during the last quarter. Finally, Adams Diversified Equity Fund Inc. bought a new stake in shares of Knight-Swift Transportation in the 1st quarter worth about $10,498,000. Institutional investors own 88.77% of the company's stock.

Knight-Swift Transportation Stock Performance

Shares of NYSE:KNX opened at $47.34 on Friday. The company has a market capitalization of $7.67 billion, a price-to-earnings ratio of 50.36, a P/E/G ratio of 0.71 and a beta of 1.17. The firm's 50 day simple moving average is $44.51 and its 200 day simple moving average is $47.15. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.88 and a quick ratio of 0.88. Knight-Swift Transportation Holdings Inc. has a fifty-two week low of $36.69 and a fifty-two week high of $61.51.

Knight-Swift Transportation (NYSE:KNX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The transportation company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.25 by $0.03. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.83 billion. Knight-Swift Transportation had a net margin of 2.04% and a return on equity of 2.79%. Knight-Swift Transportation's revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the company posted $0.12 EPS. As a group, sell-side analysts forecast that Knight-Swift Transportation Holdings Inc. will post 2.13 earnings per share for the current year.

Knight-Swift Transportation Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Monday, June 9th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.72 dividend on an annualized basis and a yield of 1.52%. Knight-Swift Transportation's payout ratio is 76.60%.

Analysts Set New Price Targets

KNX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Knight-Swift Transportation from $46.00 to $45.00 and set a "neutral" rating on the stock in a report on Tuesday, July 8th. Barclays decreased their price objective on shares of Knight-Swift Transportation from $58.00 to $55.00 and set an "overweight" rating on the stock in a report on Thursday. The Goldman Sachs Group raised shares of Knight-Swift Transportation from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $45.00 to $65.00 in a report on Monday, June 2nd. Robert W. Baird started coverage on shares of Knight-Swift Transportation in a report on Tuesday, July 1st. They set an "outperform" rating and a $55.00 price objective on the stock. Finally, Raymond James Financial cut their target price on shares of Knight-Swift Transportation from $66.00 to $55.00 and set a "strong-buy" rating on the stock in a research report on Friday, April 11th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $53.06.

Knight-Swift Transportation Profile

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides freight transportation services in the United States and Mexico. The company operates through four segments: Truckload, Less-than-truckload (LTL), Logistics, and Intermodal. The Truckload segment provides transportation services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.

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